Agreement with Solvay
4th August 2015
Byotrol plc
JOINT COMMERCIAL & DEVELOPMENT AGREEMENT WITH SOLVAY TO PROMOTE GROWTH
Byotrol, the specialist anti-microbial technology company, is pleased to announce that it has signed an agreement to develop and commercialise long-lasting biocidal products ("Agreement") with the listed international chemical group Solvay SA ("Solvay").
As part of the Agreement Solvay will be making a significant investment in Byotrol's technical cost base in the current financial year. Assuming normal trading conditions prevail, the Board expects the Company to report EBITDA break-even in the six months to 31 March 2016.
Cooperation to drive innovation and growth
The Agreement formalises an already close technical relationship between the Company and Solvay's subsidiary Solvay Novecare, a world leader in specialty polymers and surfactants with an annual turnover in excess of Euro 2 billion. It is built upon the joint development of anti-microbials, combining the best of Byotrol's long-lasting anti-microbial formulations and Solvay's world-leading polymer and surfactant technologies (collectively the "Products"). The Company has already completed (and patented) one such product for the EU consumer market and is actively marketing it jointly with Solvay to customers.
Initially Byotrol will pool technical, commercial and sales resource with Solvay Novecare in targeting Products at the EU consumer market. Over time we expect to be expanding into other geographies, into professional markets and in due course into personal care markets too. The two parties will then be sharing gross profit from any jointly-developed products.
David Traynor, Byotrol CEO commented: "We have been working closely with Solvay for some time now and are delighted to formalise our existing relationship, securing a strong endorsement of our technology and development team from a world-class partner. We will benefit greatly from Solvay's technical, regulatory and commercial abilities, as well of course from its global sales reach. This Agreement should be a clear inflection point in Byotrol's growth."
Thierry Sclapari, Global Vice President, Home and Personal Care, Solvay Novecare commented: "We see a big opportunity for our unique polymer technologies in Byotrol's anti-microbial systems. We look forward to taking our jointly-developed products to our customers worldwide."
Enquiries:
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Byotrol plc |
01925 742 000 |
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David Traynor - Chief Executive Dawn Marshall - Group Marketing Controller |
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finnCap Ltd |
020 7220 0500 |
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Geoff Nash / Carl Holmes - Corporate Finance |
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Mia Gardner - Corporate Broking |
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Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a specialist developer of residual antimicrobial technologies, maximising insights to identify, develop, formulate and commercialise cutting-edge antimicrobial technologies, delivered in direct sales and in long-term licensing partnerships with consumer and professional multi-nationals.
Our patented suite of technologies deliver powerful broad-spectrum efficacy with residual performance optimised against commonly occurring and industry-specific pathogens.
For more information, please go to www.byotrol.co.uk
This information is provided by RNS
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